Hudson’s Bay Company (HBC) has revealed Edward Record as its new Chief Financial Officer (CFO), effective 18 August of this year.
Record joins HBC having acted as the CFO for J. C. Penney Company Inc., throughout which time he was successful in reducing the company’s debt leverage, improving its credit rating and implementing its capital restructuring.
With more than 25 years of experience and a proven track record of success, CEO of HBC Jerry Storch expressed his contentment in Record’s appointment.
“Ed’s deep retail experience will support our company’s mission to get ahead and stay ahead of the rapidly changing retail environment,” he said.
“He will play a key role as we continue to drive performance and make the right strategic decisions to improve our retail businesses, while also evaluating the best use of our real estate assets.”
The new CFO has equally expressed his excitement at the opportunity, stating his hopes of contributing to the continuing success of the company: “I’m thrilled to be joining HBC, one of the most diverse retail operators with a global portfolio of leading banners, valuable real estate and a history of unique transactions that unlock shareholder value.
“HBC’s leadership team and finance organisation are second to none and I look forward to joining them to continue to execute the Company’s strategic plan while positioning HBC for future success.”
Record succeeds previous CFO Paul Beesley, who announced he will be leaving the company, having agreed to remain for a short time to ensure a smooth transition between him and his successor.